Retail Sales Data: "Snowdown," Not SlowdownGuest Post
A decline in expected corporate earnings has often heralded recessions, and with disappointing retail sales and employment numbers, many believe that the U.S. is looking at a significant slowdown at best, another recession at worst.
The counterargument, to which I subscribe, is that this is another example of a snowdown, not a slowdown, and that bad weather . . .
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